Consider the following statements regarding foot lose industry Which of them are correct 1 It ...........

Economic Affairs Industrial sectors

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Consider the following statements regarding foot lose industry. Which of them are correct?

1. It is an industry that can be placed and located at any location

2. These industries often have a spatially fixed cost.

Which of the above is/are correct?

1 only

2 only

Both 1 and 2

None

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Explanation:

Foot loose industry is an industry that is not tied to any particular location or country, and can relocate across national borders in response to changing economic conditions. It has spatially fixed cost. The cost of products does not change despite where the product is assembled.